Lake Street Capital Issues Positive Forecast for Priority Technology (NASDAQ:PRTH) Stock Price

Priority Technology (NASDAQ:PRTH) had its target price boosted by Lake Street Capital from $8.00 to $13.00 in a research report report published on Friday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the company. B. Riley lifted their price objective on Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $9.00 target price (up from $5.00) on shares of Priority Technology in a report on Friday, November 8th.

Priority Technology Trading Down 4.0 %

PRTH stock opened at $8.02 on Friday. Priority Technology has a 12-month low of $2.79 and a 12-month high of $9.25. The business’s 50-day moving average is $6.63 and its 200 day moving average is $5.49.

Insider Activity

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.13, for a total value of $61,300.00. Following the sale, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at $71,028.31. The trade was a 46.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Kiewiet sold 4,954 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.41, for a total value of $26,801.14. Following the completion of the sale, the insider now directly owns 1,085,158 shares in the company, valued at approximately $5,870,704.78. The trade was a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,302 shares of company stock valued at $286,501. 76.30% of the stock is currently owned by company insiders.

Institutional Trading of Priority Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rebalance LLC acquired a new position in shares of Priority Technology in the third quarter worth $4,822,000. Vanguard Group Inc. grew its stake in shares of Priority Technology by 25.7% in the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after acquiring an additional 156,044 shares in the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of Priority Technology in the second quarter worth $301,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Priority Technology in the first quarter worth $164,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Priority Technology during the second quarter worth $202,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Priority Technology Company Profile

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.